Does a Will protect my child’s inheritance?
When you leave your wealth to another person on your death, you have no assurance that this person will abide by your wishes for how you would want them to distribute that wealth on their later death.
This can occur in any scenario, but a common example occurs where you leave all of your estate to your spouse, who has made a similar Will to yours, and which leaves everything to your mutual children when the survivor of you passes away. However, after your death, your spouse is free to change their Will and may well do so if they re-partner.
Securing future legacies by Agreement
As a parent, you want to see your wealth pass ultimately to your children when your spouse subsequently dies. We can discuss with you, either alone or together, the options you have to provide greater protection for your long-term inheritance to your ultimate beneficiaries. There are a number of strategies available to you. One option is to enter into an Inheritance Agreement with your spouse. This is sometimes known as making joint Wills, binding Wills, mutual Wills or a contract to make mutual Wills. This agreement needs to be made at the time of making your Wills. You can use a combination of strategies to achieve your purpose, too.
Seek professional advice
These strategies can be very effective in ensuring your legacy passes in accordance with your wishes. Care needs to be taken when drafting an inheritance agreement to consider all of the likely future scenarios and to ensure that it contains the right provisions to suit your situation.
These agreements involve complex legal principles and must be drafted by an estate planning lawyer. At our first consultation, we will go through the various options and the pros and cons of preparing an inheritance agreement, and provide you with our recommendations, along with a fixed fee quote.
Talk to Us Today
Please complete the form below. Alternatively, you can call us on 1300 132 567.
Our unique ‘4 easy steps’ makes the process easy
Expert Estate Planning with Fixed Fees
Meet With Your Lawyer
Whether we meet virtually or face to face, we will listen, answer your questions, craft your estate plan and provide you with a fixed fee quote.
We’ll Keep You Updated
You will receive draft documents to review. You can discuss your plan with us at any time you want.
Final Document Meeting
We will go through all of your final documents together to ensure the plan is exactly what you want.
"We completed a complex Inheritance Agreement (Mutual Wills Deed), Enduring Powers of Attorney and Wills. Very satisfied with the outcome."
"Very engaging and knowledgeable, our questions were always answered with respect."